Queensland Consolidated Acts

PETROLEUM ACT 1923 - SECT 81

81 Consequence of failure to comply with relinquishment requirement

(1) This section applies if—

(a) noncompliance action taken is a requirement, under section 80T (1) (b) , of a 1923 Act petroleum tenure holder; and

(b) the requirement is not complied with.

(2) The holder must be given a notice requiring the holder to comply with the requirement under section 80T (1) (b) within 20 business days after the giving of the notice.

(3) If the holder does not comply with the requirement under the notice, the tenure is cancelled.

(4) However, the cancellation does not take effect until the holder is given a notice stating that the tenure has been cancelled because of the operation of subsection (3) .